Silver prices neared 32-year highs as investors flocked to the metal as both an inflation hedge and beneficiary of the global economic recovery. Continuing its record-breaking spree on the back of firming trend overseas, silver futures prices shot up by over 3.48% to hit a new high of Rs 50,420 per kg. Record levels in the spot market on rising demand, driven by the ongoing marriage season too influenced the white metal prices at futures trade here.now technically market is in overbot as RSI for 18days is currently indicating 79.04, where as 50DMA is at 44789.6 and silver is trading above the same and getting support at 49137 and below could see a test of 47985 level, And resistance is now likely to be seen at 50931, a move above could see prices testing 51573. Trading Ideas:

Silver trading range is 47985-51573.

Silver rose to record high as investors flocked to the metal an inflation hedge

Silver looks to get resistance at 50450 and support at 50000.

In spot silver looks to have a resistance at 33.60$ and support at 33.12$.

Silver $ FIX is at : 33.43 & CURRENTLY SILVER $ IS TRADING AT : 33.42 & DOWN BY -1.27%